DESCRIPTION
Under federal law you cannot repeatedly change your payroll frequency. However, if your payroll frequency doesn’t work for your business, you have no option to change it for your business’ best interests.
Do you know that you cannot change payroll frequencies to evade paying overtime or to delay wage distributions? It is illegal to do so under the Fair Labor and Standards Act (FLSA) because it can interfere with tax withholdings. You can legally change payroll frequencies in most of the states, provided you are not doing so to avoid paying overtime worked. But changing payroll frequencies is not an easy task – it requires a lot of preparation, research and caution in every step.
Firstly, you need to know whether your state even permit the frequency and what are the employee notifications that you need to make before making the changes. Also, issues such as timing, systems, and employee earnings and fringe benefit accruals must be addressed before making the change.
Join us for this session with Vicki M. Lambert, CPP, to gain the knowledge and insight necessary to successfully implement payroll frequency changes for your company. Vicki will help you understand the requirements under federal and state Laws when contemplating a change in payroll frequency. She will also discuss best practices, practical areas and legal requirements.
Session Highlights
- Why do you may require a payroll frequency change
- What are the choices available for you
- Understanding the compliance issues in frequency change
- Impact on your payroll department
- Impact on your employees
- Impact on systems and procedures
- Key communication factors
- Formulating the plan to implement the change
- Measuring the outcome
Who Will Benefit:
- Payroll executives
- Payroll managers
- Administrators
- Human resources executives and managers
- Accounting professionals
- Business owners
- Executive officers
- Operations and departmental managers
- Lawmakers
- Attorneys